This paper investigates retirees' optimal purchases of fixed and variable longevity income annuities using their … using plan assets to boost Social Security benefits through delayed claiming. We determine that including deferred income …

market instruments. Using intergenerational risk sharing arrangements, risks can be allocated better across the various …

- state and occupational pensions and private pension schemes - can sufficiently guarantee adequate retirement income in the … pension provision taking account of the key characteristic of retirement saving - the long investment horizon - is … stocks. The analysis leads to the conclusion that the risk entailed in stock investment is reduced relative to the yield as …

A recent US Treasury regulation allowed deferred longevity income annuities to be included in pension plan menus as a … hold in employer-based defined contribution plans into lifelong income streams. We investigate this innovation using a … retirement security, enhancing welfare by up to 20% of retiree plan accruals. …

that imposes on financial advisers to retirement savers “fiduciary” status under the Employee Retirement Income Security … advisers to retirement savers. The article also canvasses the customary role of an investment policy statement in promoting … Act. The Department reasoned that the fiduciary duty of loyalty was necessary to protect retirement savers from conflicted …

would be as much as 24 percent better off taking a reverse mortgage as a lifetime income relative to what appears to be the …

retirement and two types of individuals, who differ in their life expectancy. In order to introduce the existence of limited …-time pension insurance, we consider a model where for each period of retirement separate contracts can be purchased. Demand for the … two periods can be decided either sequentially or simultaneously. We show that only a situation where all risk types …

This paper examines the optimal allocation of risk across generations whose savings mix is subject to illiquidity in … allocation decision for retirement, and show that illiquidity reduces the range of transferable shocks between generations and … thus lowers the benefits of risk-sharing. Higher illiquidity then may justify higher levels of risk sharing to compensate …

dependence of hazard rates, which determine individuals' behavioral response w.r.t. education, work and age of retirement …. -- longevity ; survival functions ; education ; work ; age of retirement ; annuities …